The price of Ethereum rose to the sky by 10% over the past week, mainly due to ETF inflows worth 312 million USD into the market in the last five days.
A leading analyst is cautiously optimistic about the outlook for December. If Ethereum ends November above the Kijun line, the chances of a positive development next month will be strengthened.
Traders are currently focusing on this important level, as it may signal the next step in the rising trend of Ether.
What drove the price of ETH to rise to the sky by 10% in the past week?
Ethereum has returned to the 3,000 USD mark, recording a rise to the sky of 10% in a week. This increase is largely driven by strong participation from institutional investors.
According to data from Farside, Ethereum ETF funds have attracted up to 312 million USD in net deposits in just the last five days. The increased demand from ETFs has boosted buying activity in both the spot and derivatives markets, while also encouraging strategic investors to return to accumulate Ether.
A report from Arkham shows that wallets related to Tom Lee have transferred an additional 44.3 million USD in ETH to accounts linked to Bitmine.
Ethereum price chart | Source: TradingViewIn a statement on November 24, Mr. Lee confirmed that the annual shareholders' meeting of Ethereum will be held in January 2026 in Las Vegas. He also noted that ETH is currently in a solid short-term support zone around 2,500 USD, while suggesting that the market may be entering a new super growth cycle.
These remarks have particularly captured the attention of investors, as they suggest the possibility of significant fluctuations in ETH in the near future.
Technical Analysis: What is the next target for ETH?
On the daily chart, the price of ETH has formed a descending wedge pattern, suggesting a potential rise to the sky of up to 50%. This pattern reflects the gradual weakening of the sellers as the price is squeezed between downward sloping trendlines.
Typically, this is a sign that a strong breakout is about to occur. Traders are closely monitoring, as if the price breaks through the wedge pattern, ETH could enter a significant growth phase.
Currently, ETH is approaching a key resistance zone just below the middle band of the Keltner Channel, around 3,108 USD. Market momentum is leaning towards the positive.
The MACD indicator has returned to the positive zone, while the Woodies CCI also remains above 0 and continuously creates higher lows.
These signals indicate that buying pressure is increasing, while confidence in the market is gradually returning. The current focus is on the next challenge at the resistance area between the wedge, from 3,150 to 3,200 USD. If ETH closes above this area, the breakout trend will be confirmed and will open up opportunities for stronger growth.
According to the wedge model, the next target for ETH will be around 4,500 USD to 4,600 USD, which is an increase of about 53% from the current price.
December Forecast: What Closing Above Kijun Will Bring for ETH?
The price of Ethereum is heading towards the end of November with an important technical threshold, and according to the assessment of expert Titan of Crypto, this threshold will shape market trends in December.
On the monthly chart, ETH is currently testing the Kijun-sen line – a factor that often acts as a key trend filter in Ichimoku analysis.
History shows that the monthly closes on the Kijun line often open up extended growth cycles lasting several months. Conversely, when this threshold is lost, the market tends to stagnate.
Source: Ethereum price chart from Titan Of CryptoCurrently, Ethereum has risen above the 'cloud' and is striving to maintain this position.
The question arises: Can November end with a price above the Kijun line? If this happens, Titan of Crypto believes that the possibility of ETH having a strong growth in December is very high.
Mr. Teacher
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